What the Rise of Pricing Officers Says About Big Law's Future

, The Am Law Daily

   | 2 Comments

The advent of law firm pricing executives—once a novelty act, now nearly a norm—shows that lawyers and their managers have started to use important data rather than ignore it.

This article has been archived, and is no longer available on this website.

View this content exclusively through LexisNexis® Here

Not a LexisNexis® Subscriber?

Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via lexis.com® and Nexis®. This includes content from The National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

What's being said

  • Terrific article. Very well written and full of great points. The use of our application by companies is another example of customers wanting to find the best value for their work from law firms they already know and trust. We see a range of behaviors from firms relative to pricing that are often based on factors which would not always be readily apparent to a company trying to determine who to hire. Perhaps the firm has worked against the counter party in the past and knows what to expect - meaning it can be more aggressive. Perhaps one firm doesn‘t need to fill hours while another is presently sitting on inventory - again making it willing to be more aggressive. The one constant, however, that always impacts pricing in a service business like law is that the commodity being sold from the perspective of the service provider always involves time. Time is finite and has no shelf life. No matter the billing method, law firms remain concerned with how that inventory is priced.

  • Betsy Munnell

    Well said, Aric. Accurate. Perhaps overly optimistic, but we can dream. What a BigLaw world it would be without the "partner-as-gang-leader" phenomenon (euphemistically, "silo practices"...or "buccaneer").

Comments are not moderated. To report offensive comments, click here.

Preparing comment abuse report for Article# 1202661735831

Thank you!

This article's comments will be reviewed.